Private Law Theory

ABSTRACT
Cryptoasset markets have expanded rapidly over recent years and, accordingly, have garnered significant regulatory attention. By contrast, the integration of cryptoassets within the relevant private and commercial law has been much more restrained and limited. We try to map the complex interactions of cryptoassets regulation – primarily focusing on MiCAR – with private and commercial law as applicable to this new asset class. Whereas existing literature focuses almost exclusively on the perspective of public bodies-national/EU legislators, regulators and/or courts, we assume the perspective of market participants contracting in the cryptoasset space, using cryptoasset sales and cryptoasset lending transactions as case studies. On that basis, we critically evaluate current and emergent market practices and try to show where the direction of travel should be going.

Schillig, Michael and Meissner, Michael, Cryptoassets Regulation and Private Law (June 25, 2026).